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The “No Tax on Car Loan Interest” provision allows anyone who’s purchased a car from 2025 on to deduct the interest paid on the loan when they file their taxes. There are a few stipulations before you ...

Taxpayers who buy a new car assembled in the U.S. may be able to deduct up to $10,000 from their taxable income beginning in 2025. To help sort out the details, the IRS is rolling out additional ...

Forbes contributors publish independent expert analyses and insights. Andrew Leahey is an attorney and law professor that covers tax. Starting in tax year 2025, taxpayers will be able to deduct up to ...

The Senate Finance Committee unveiled text for a multitrillion-dollar tax bill, part of a broader Republican domestic policy package. The legislation would let taxpayers deduct up to $10,000 of car ...

A new tax break allows deductions on interest paid on new car loans for vehicles assembled in the U.S. until 2028. Experts believe the tax break is unlikely to significantly shift the market in favor ...